Notable Mover: A Reversal for First Solar, Inc. Is Not Near. The Stock Rises Again

October 19, 2016October 19, 2016Darrin Black

The stock of First Solar, Inc. (NASDAQ:FSLR) is a huge mover today! About 1.99 million shares traded hands. First Solar, Inc. (NASDAQ:FSLR) has declined 45.09% since March 16, 2016 and is downtrending. It has underperformed by 50.63% the S&P500.
The move comes after 7 months positive chart setup for the $4.28B company. It was reported on Oct, 19 by Barchart.com. We have $54.85 PT which if reached, will make NASDAQ:FSLR worth $1.37B more.

Analysts await First Solar, Inc. (NASDAQ:FSLR) to report earnings on November, 14. They expect $0.66 earnings per share, down 80.47% or $2.72 from last year’s $3.38 per share. FSLR’s profit will be $67.99 million for 15.74 P/E if the $0.66 EPS becomes a reality. After $0.87 actual earnings per share reported by First Solar, Inc. for the previous quarter, Wall Street now forecasts -24.14% negative EPS growth.

First Solar, Inc. (NASDAQ:FSLR) Ratings Coverage

Out of 20 analysts covering First Solar Inc. (NASDAQ:FSLR), 10 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 50% are positive. First Solar Inc. has been the topic of 38 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of First Solar, Inc. (NASDAQ:FSLR) has “Buy” rating given on Tuesday, August 4 by JP Morgan. Goldman Sachs downgraded First Solar, Inc. (NASDAQ:FSLR) on Friday, October 7 to “Neutral” rating. The firm earned “Buy” rating on Tuesday, January 26 by Roth Capital. The firm earned “Hold” rating on Thursday, August 6 by TheStreet. The firm earned “Buy” rating on Monday, January 18 by Standpoint Research. Argus Research maintained the shares of FSLR in a report on Wednesday, May 18 with “Buy” rating. The firm earned “Buy” rating on Thursday, April 28 by Roth Capital. The stock has “Market Perform” rating given by Wells Fargo on Thursday, June 2. The firm has “Overweight” rating given on Tuesday, September 1 by Barclays Capital. Standpoint Research upgraded the stock to “Buy” rating in Friday, January 15 report.

Insider Transactions: Since May 2, 2016, the stock had 0 insider buys, and 9 insider sales for $27.90 million net activity. The insider DeJong Philip sold $2.98M. ANTOUN GEORGES sold $5.96 million worth of stock or 133,761 shares. HUGHES JAMES ALTON had sold 12,884 shares worth $714,130. Shares for $4.02M were sold by Widmar Mark R. $905,874 worth of shares were sold by KALETA PAUL J on Thursday, August 4. 90,000 First Solar, Inc. (NASDAQ:FSLR) shares with value of $3.98M were sold by Garabedian Raffi. Shares for $24,774 were sold by Bradley Alexander R. on Friday, August 5.

More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Fool.com which released: “Why First Solar, Inc. Is Built to Survive the Solar Storm Ahead” on October 06, 2016, also Schaeffersresearch.com with their article: “Analyst Downgrades: Cree, Inc., First Solar, Inc., and Intel Corporation” published on October 19, 2016, Profitconfidential.com published: “First Solar, Inc.: FSLR Stock Bulls Beware, the Bear is Alive and Well” on October 12, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: Bloomberg.com and their article: “First Solar Completes Shams Ma’an Power Plant Project in Jordan” published on October 09, 2016 as well as Schaeffersresearch.com‘s news article titled: “First Solar, Inc. (FSLR) Options Heat Up Amid Analyst-Induced Headwinds” with publication date: October 07, 2016.

FSLR Company Profile

First Solar, Inc., incorporated on May 15, 2003, is a well-known provider of photovoltaic (PV) solar energy solutions. The Firm designs, makes and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Firm operates through two divisions: components and systems. The Company’s components segment designs, makes and sells solar modules, which convert sunlight into electricity. The Company’s systems segment provides PV solar power systems or solar solutions for systems, which use the Company’s solar modules. The Firm provides activities and maintenance (O&M) services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. The Firm has approximately 30 manufacturing lines around the world and over 2.8 gigawatts (GW) of annual manufacturing capacity with lines having a production capability of approximately 2,500 modules per day, totaling approximately 71,600 modules each day across over 30 lines.